Many people who live in New Jersey are concerned since there is so much confusion over the Eviction Moratorium.
Some renters are protected until the end of the year by Governor Murphy’s legislation. However, not all tenants get that protection until the end of the year since they must meet income requirements and must submit a self-certification form to their landlords and/or court.
However, the major point of this article is that the moratorium on home foreclosures ends on November 15, 2021. Thus, if your home goes to sheriff sale before November 15, 2021, you will not be evicted from your home, but your home will be lost if it proceeds to foreclosure sale. Thus, it is urgent that you contact Taieb Law for a free consultation to see how he can help you save your home by filing a chapter 13 bankruptcy.
There is a lot of confusion in New Jersey since some counties are only having sheriff sales for abandoned and vacant homes, while other counties are having full blown sheriff sales but holding off evictions.
Once a sheriff sale occurs, title is transferred from your name even though you can’t be evicted until after November 15, 2021, you lose the home once it goes to sheriff sale.
What good is it if you can’t be immediately evicted if the home is no longer your home?
Also, it is extremely dangerous to file a bankruptcy petition within the ten-day redemption period since that gives you sixty days under the bankruptcy code to save your home under state law, which is extremely difficult when you are in foreclosure and even more unlikely once the home has gone to foreclosure sale.
If you have a sheriff sale scheduled, it is URGENT that you contact Taieb Law for a FREE consultation so he can advise you of your rights under the bankruptcy code. Then you must file the chapter 13 petition BEFORE the date of the sheriff sale if you want to save your home. If you don’t want to save the home and want to clear your credit, you should file a chapter 7 bankruptcy if you qualify.
The chapter 13 will give you several options whereby I am listing a few:
1. You can do an arrearage cure which will allow you to pay back the money you are behind over the next 60 months and in a lot of cases our clients have discharged all other unsecured debt such as credit cards, personal loans and medical bills.
2. If you cannot afford to pay back the mortgage arrears over the next 60 months, you can try to obtain a loan modification where the mortgage arrears are put on the back of the mortgage. Some of our clients have been successful in obtaining loan modifications while others have not been successful. This is why I prefer an arrearage plan since you control your own destiny.
3. Other clients have done sales plans, whereby they stop the foreclosure and then sell their home through the bankruptcy. Unlike a chapter 7 where a trustee has control, the client has control of the sale in a chapter 13 and would get an initial $25,150 exemption if there was substantial equity in the home.
These are only a few types of plans to stop foreclosure on your home.
If you are sick, stressed out, or losing sleep over your debt, we can help you save your property and get a fresh start by filing a bankruptcy for you. For more information go to www.bankruptcywithcare.com or call us at (856)235-4994 for your FREE initial consultation.
AGAIN, PLEASE NOTE WE ARE OPEN FOR BUSINESS TO HELP ANYBODY WHO IS IN FINANCIAL DISTRESS AND CAN HELP YOU EITHER IN OFFICE OR VIRTUALLY. PLEASE ALSO NOTE THAT STEVEN N. TAIEB, ESQUIRE HAS BEEN VACINATED.
Steven N. Taieb, Esquire has been a south jersey bankruptcy attorney for 36 years and is board certified in consumer bankruptcy law by the American Board of Certification which is accredited by the American Bar Association.
We are a debt relief agency. We help people file for bankruptcy relief under the bankruptcy Code.